Topic: so what to do with USDT ?! (Read 919 times)
I believe the best time to hold USDT is now as the price is gradually coming, and I think you can also convert your coin to fiat in Binance when on spot trading but its also for some specified countries, but you can still dig in more, changing your to fiat isn't that hard any more but you have to find the exchange that's works for you
If you want Fiat then I think you should use local exchanges, each country will have many different small exchanges do that job. So I believe you will not have too much difficulty with it
its not something that is that hard, selling to fiat involves just to identify if your desired fiat is available, then check for the pair which you can easily convert your current coin into and then you can trade easily to fiat and make withdrawal.
hi guys
am new here, but i have been holding 0.95 BTC since more than 2 years now, just today am getting into exchanges and i picked Binance, i was trying to sell a small amount 0.0061 BTC through their Trading Platform, and i managed to sell it, but i was surprised when i found my BTC was sold for yet ANOTHER cryptocurrency called USDT !!! then what is the point am selling for
am selling to get FIAT in exchange, now am stuck with yet another crypto in my binance wallet which i cant store on my trezor, can someone advise on any reputable exchange where i can trade BTC to actual FIAT and then withdraw to my bank account ?
My second question how to go about this USDT i ended up with >! how to get FIAT in exchange for it ?? Binance P2P wont buy ur USDT in small amounts, they need at least 1000 to exchange to USD
need help figuring this out.
thanks,
am new here, but i have been holding 0.95 BTC since more than 2 years now, just today am getting into exchanges and i picked Binance, i was trying to sell a small amount 0.0061 BTC through their Trading Platform, and i managed to sell it, but i was surprised when i found my BTC was sold for yet ANOTHER cryptocurrency called USDT !!! then what is the point am selling for
am selling to get FIAT in exchange, now am stuck with yet another crypto in my binance wallet which i cant store on my trezor, can someone advise on any reputable exchange where i can trade BTC to actual FIAT and then withdraw to my bank account ?My second question how to go about this USDT i ended up with >! how to get FIAT in exchange for it ?? Binance P2P wont buy ur USDT in small amounts, they need at least 1000 to exchange to USD
need help figuring this out.
thanks,
USDT is a stable coin and it has its wide range functions and benefits too. If you use binance for example, and would love to withdraw in fiats currencies, you need to convert your crypto currencies to usdt, so you can withdraw your fiats. Also, if you are in profit, and want to close your order for the day and seeks safety, you can equally trade to usdt, to keep your value in $ intact.
My recommendation :
Convert small portion of your Tether (USDT) to Bitcoin, sent it to Kraken, withdraw in USD, evaluate the whole process.
If process is good : get verified on Kraken (so you can withdraw a larger amount in USD) and repeat above process.
Links :
https://support.kraken.com/hc/en-us/articles/360000423043-Fiat-currency-withdrawal-options-fees-minimums-and-processing-times-
https://support.kraken.com/hc/en-us/articles/360001449826-Deposit-and-withdrawal-limits-by-verification-level
Looking at the FIAT currencies limits in above link you may need to get verified first, before being able to do any kind of FIAT withdrawel as a starter, keep that in mind.
Also Kraken has this in place : 'All first-time fiat deposits will result in a temporary (72 hour) withdrawal hold on the account.'
With regards to Euro withdrawing, Kraken is one of the largest exchange that is handling Euro withdrawels in Europe and has an excellent reputation.
I just don't know how well Kraken handles USD withdrawels, it depends on their third party USD payment-processing & banking partnerships i guess.
Convert small portion of your Tether (USDT) to Bitcoin, sent it to Kraken, withdraw in USD, evaluate the whole process.
If process is good : get verified on Kraken (so you can withdraw a larger amount in USD) and repeat above process.
Links :
https://support.kraken.com/hc/en-us/articles/360000423043-Fiat-currency-withdrawal-options-fees-minimums-and-processing-times-
https://support.kraken.com/hc/en-us/articles/360001449826-Deposit-and-withdrawal-limits-by-verification-level
Looking at the FIAT currencies limits in above link you may need to get verified first, before being able to do any kind of FIAT withdrawel as a starter, keep that in mind.
Also Kraken has this in place : 'All first-time fiat deposits will result in a temporary (72 hour) withdrawal hold on the account.'
With regards to Euro withdrawing, Kraken is one of the largest exchange that is handling Euro withdrawels in Europe and has an excellent reputation.
I just don't know how well Kraken handles USD withdrawels, it depends on their third party USD payment-processing & banking partnerships i guess.
I will advice you trade with the USDT, study a good altcoin to trade on exchange, when the token is dumping, buy with your USDT, when the token Pumps, exchange back to USDT, keep doing this and in few days you should be in profit.
LOL, this is really a humorous advice. How do you know when is the time to buy the token if it is dumped?The cryptocurrency market is harder than the forex market, so it's not easy to trade for newbies to make profit.
... If your purpose to convert your BTC to fiat no need to use Binance...
On Binance, there is really no trading pair to USD and it is not known what this is due to. But it can be exchanged for Fiat, Euro, GBR and other national currencies. Based on the development of the exchange, they will add new national currencies in order to facilitate entry and withdrawal via credit card.
hi guys
am new here, but i have been holding 0.95 BTC since more than 2 years now, just today am getting into exchanges and i picked Binance, i was trying to sell a small amount 0.0061 BTC through their Trading Platform, and i managed to sell it, but i was surprised when i found my BTC was sold for yet ANOTHER cryptocurrency called USDT !!! then what is the point am selling for am selling to get FIAT in exchange, now am stuck with yet another crypto in my binance wallet which i cant store on my trezor, can someone advise on any reputable exchange where i can trade BTC to actual FIAT and then withdraw to my bank account ?
My second question how to go about this USDT i ended up with >! how to get FIAT in exchange for it ?? Binance P2P wont buy ur USDT in small amounts, they need at least 1000 to exchange to USD
need help figuring this out.
thanks,
You still have your money, why sound like USDT is worthless? If you can't convert to FIAT on binance exchange you will need to get your BTC back and move the BTC to platforms that support FIAT withdrawal like Luno, I use Luno and it works perfectly ok, it supports many countries too. am new here, but i have been holding 0.95 BTC since more than 2 years now, just today am getting into exchanges and i picked Binance, i was trying to sell a small amount 0.0061 BTC through their Trading Platform, and i managed to sell it, but i was surprised when i found my BTC was sold for yet ANOTHER cryptocurrency called USDT !!! then what is the point am selling for
am selling to get FIAT in exchange, now am stuck with yet another crypto in my binance wallet which i cant store on my trezor, can someone advise on any reputable exchange where i can trade BTC to actual FIAT and then withdraw to my bank account ?My second question how to go about this USDT i ended up with >! how to get FIAT in exchange for it ?? Binance P2P wont buy ur USDT in small amounts, they need at least 1000 to exchange to USD
need help figuring this out.
thanks,
I will advice you trade with the USDT, study a good altcoin to trade on exchange, when the token is dumping, buy with your USDT, when the token Pumps, exchange back to USDT, keep doing this and in few days you should be in profit.
he was looking for the best way to exchange his USDT into the fiat money and there was no a lot of exchange sites have already used USDT too. He can use coinbase, kraken, okex, bittrex and many more to exchange it with fiat but since he was looking for exchanging small amounts and exchange site will never approve it as it needs a lot of money to pay the fees. 
I believe the best time to hild USDT is now as the price is gradually coming, and I think you can also convert your coin to fiat in Binance when on spot trading but its also for some specified countries, but you can still dig in more, changing your to fiat isn't that hard any more but you have to find the exchange that's works for you
USDT is a stable coins so why you are saying this is the best time to hold it? No matter when you hold the price is going to be stable or goes to zero if people lost the trust on it.Binance support fiat withdrawals but not for every countries so he needs to check whether his country is supported or not.Or its better to move BTC to p2p like localbitcoin and sell it for fiat from there.
I thought binance supports FIAT? I'm guessing that's through binance US, that's US version for binance exchange, you can withdraw FIAT through that platform, all you need to do is KYC verifications, the app is available on playstore, looks like this
hi guys
am new here, but i have been holding 0.95 BTC since more than 2 years now, just today am getting into exchanges and i picked Binance, i was trying to sell a small amount 0.0061 BTC through their Trading Platform, and i managed to sell it, but i was surprised when i found my BTC was sold for yet ANOTHER cryptocurrency called USDT !!! then what is the point am selling for am selling to get FIAT in exchange, now am stuck with yet another crypto in my binance wallet which i cant store on my trezor, can someone advise on any reputable exchange where i can trade BTC to actual FIAT and then withdraw to my bank account ?
My second question how to go about this USDT i ended up with >! how to get FIAT in exchange for it ?? Binance P2P wont buy ur USDT in small amounts, they need at least 1000 to exchange to USD
need help figuring this out.
thanks,
am new here, but i have been holding 0.95 BTC since more than 2 years now, just today am getting into exchanges and i picked Binance, i was trying to sell a small amount 0.0061 BTC through their Trading Platform, and i managed to sell it, but i was surprised when i found my BTC was sold for yet ANOTHER cryptocurrency called USDT !!! then what is the point am selling for
am selling to get FIAT in exchange, now am stuck with yet another crypto in my binance wallet which i cant store on my trezor, can someone advise on any reputable exchange where i can trade BTC to actual FIAT and then withdraw to my bank account ?My second question how to go about this USDT i ended up with >! how to get FIAT in exchange for it ?? Binance P2P wont buy ur USDT in small amounts, they need at least 1000 to exchange to USD
need help figuring this out.
thanks,
You can use LocalBitcoins to convert your BTCs to FIAT money there's no minimum limit there AFAIK. You can also look for any other exchange that provides service in your country. Would be able to help you better if I know which country you are from.
I will advice you trade with the USDT, study a good altcoin to trade on exchange, when the token is dumping, buy with your USDT, when the token Pumps, exchange back to USDT, keep doing this and in few days you should be in profit.
Usdt is stable coin in cryptocurrencies market which is not too much volatile like another coin. Anytime when we are expecting a crash in market you can convert your crypto in USDT where your total value will not decrease. After crash you can buy with these USDT any coin for a good profit quickly. USDT is a coin that has support from traders all over the world.
its a stable coin, its for you to trade and hodl if you doesnt want to be affected with the volatility of the market.
There's no point in hodling usdt. It doesn't appreciate in value. It's like an electronic version of the dollar but much more unpredictable.
If Dollar goes up usdt will go up in value but if it goes down it will also go down. The scary truth settles in when you realize that usdt is a private centralized coin and if it goes down, disappears, goes bankrupt, your money will be lost but real dollar will remain unaffected.
My advice for OP: get rid of usdt. If you want to cash out get fiat, don't hold usdt!
If you want to invest buy some coins, but again don't hold usdt.
Echoing what the others have said so far, I invest my USDT in Nexo right now and get 10% interest.
The platform has a good amount of insurance over user funds, and I believe it uses a custody solution too, so should be safer than the lending products offered by most exchanges.
You can also use your USDT to provide liquidity using one of the myriad DeFi protocols, check out DeFi pulse as there's a bunch on there that offer safe returns on USDt.
The platform has a good amount of insurance over user funds, and I believe it uses a custody solution too, so should be safer than the lending products offered by most exchanges.
You can also use your USDT to provide liquidity using one of the myriad DeFi protocols, check out DeFi pulse as there's a bunch on there that offer safe returns on USDt.
I personally invest my stablecoins on platforms like Nexo, Binance lending products, and margin lending.
On average these generate an APR of between 6-15% per year, but they can be considered relatively safe ways to turn a profit—assuming these platforms can avoid being hacked for the duration of the investment.
https://interest.coinmarketcap.com/
The above link has a few examples of places that offer a return on stablecoins. Be sure to do your own due diligence though.
On average these generate an APR of between 6-15% per year, but they can be considered relatively safe ways to turn a profit—assuming these platforms can avoid being hacked for the duration of the investment.
https://interest.coinmarketcap.com/
The above link has a few examples of places that offer a return on stablecoins. Be sure to do your own due diligence though.
hi guys
am new here, but i have been holding 0.95 BTC since more than 2 years now, just today am getting into exchanges and i picked Binance, i was trying to sell a small amount 0.0061 BTC through their Trading Platform, and i managed to sell it, but i was surprised when i found my BTC was sold for yet ANOTHER cryptocurrency called USDT !!! then what is the point am selling for am selling to get FIAT in exchange, now am stuck with yet another crypto in my binance wallet which i cant store on my trezor, can someone advise on any reputable exchange where i can trade BTC to actual FIAT and then withdraw to my bank account ?
My second question how to go about this USDT i ended up with >! how to get FIAT in exchange for it ?? Binance P2P wont buy ur USDT in small amounts, they need at least 1000 to exchange to USD
need help figuring this out.
thanks,
am new here, but i have been holding 0.95 BTC since more than 2 years now, just today am getting into exchanges and i picked Binance, i was trying to sell a small amount 0.0061 BTC through their Trading Platform, and i managed to sell it, but i was surprised when i found my BTC was sold for yet ANOTHER cryptocurrency called USDT !!! then what is the point am selling for
am selling to get FIAT in exchange, now am stuck with yet another crypto in my binance wallet which i cant store on my trezor, can someone advise on any reputable exchange where i can trade BTC to actual FIAT and then withdraw to my bank account ?My second question how to go about this USDT i ended up with >! how to get FIAT in exchange for it ?? Binance P2P wont buy ur USDT in small amounts, they need at least 1000 to exchange to USD
need help figuring this out.
thanks,
The selling to USDT isn't by magic you were the one that selected it, could be you weren't fully aware that it was BTC/USDT pair you clicked on. Regardless of that, there is no issue as you can still sell back to your preferred fiat currency. Before doing that, it is better to check the list of supported fiat currencies on Binance to see if yours is among, if it is, then select the BTC/USDT pair again, this time around sell to BTC first, then sell to your fiat. The reason is, most fiat currencies have BTC and BUSD as their trading pairs. Lastly, to successfully, withdraw the fiat, you will need to be verified, that is, sending your documents to Binance to verify you.
Well, The most simplest thing you can do is transfer the USDT to an exchange that accepts it and you can convert it to USD. But, Because it's just a small amount, I'd recommend just letting it stay in Binance because for me there's no point to do that work for a few dollars. right? So just hold it there and if you plan to trade some more BTC or other coins, then your fees are basically covered.
hi guys
am new here, but i have been holding 0.95 BTC since more than 2 years now, just today am getting into exchanges and i picked Binance, i was trying to sell a small amount 0.0061 BTC through their Trading Platform, and i managed to sell it, but i was surprised when i found my BTC was sold for yet ANOTHER cryptocurrency called USDT !!! then what is the point am selling for am selling to get FIAT in exchange, now am stuck with yet another crypto in my binance wallet which i cant store on my trezor, can someone advise on any reputable exchange where i can trade BTC to actual FIAT and then withdraw to my bank account ?
My second question how to go about this USDT i ended up with >! how to get FIAT in exchange for it ?? Binance P2P wont buy ur USDT in small amounts, they need at least 1000 to exchange to USD
need help figuring this out.
thanks,
So if I get you very well you are planning to exchange your Bitcoin to Fiat? If I'm correct you need to change that USDT back to Bitcoin and send to LUNO wallet, you need to set up a luno account and do KYC then you will be able to sell for Fiat and move into your bank account am new here, but i have been holding 0.95 BTC since more than 2 years now, just today am getting into exchanges and i picked Binance, i was trying to sell a small amount 0.0061 BTC through their Trading Platform, and i managed to sell it, but i was surprised when i found my BTC was sold for yet ANOTHER cryptocurrency called USDT !!! then what is the point am selling for
am selling to get FIAT in exchange, now am stuck with yet another crypto in my binance wallet which i cant store on my trezor, can someone advise on any reputable exchange where i can trade BTC to actual FIAT and then withdraw to my bank account ?My second question how to go about this USDT i ended up with >! how to get FIAT in exchange for it ?? Binance P2P wont buy ur USDT in small amounts, they need at least 1000 to exchange to USD
need help figuring this out.
thanks,
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